• Report: #1146657

Complaint Review: Global Royalties

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  • Submitted: Wed, May 14, 2014
  • Updated: Wed, May 14, 2014

  • Reported By: Ron — chicago Illinois
Global Royalties
225 Watline Ave. Mississauga, Ontario Canada

Global Royalties Lost a Lot of Money with this company, do not trust them Mississauga Ontario

*General Comment: Communication

*Author of original report: Global Royalties

*Consumer Comment: In the same boat

*Author of original report: Ripped off by Global Royalties

*REBUTTAL Owner of company: Same situation happened to me

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Back in 2001 I was contacted by Global Royalties, David Brooks. I have to give David credit, he was able to get the hook in me. Back when I started with them, the internet was not as powerful as it is now and there was not much information about Global Royalites or the business there said they were in, sell Gems.  David first sold me a saffire stone and then proceded to start the ball roling about trading in my saffire for a Columbian Emerald, which would cost more money, but said the value of the saffire went up in value,so they would make a trade for the emerald, but of course the emerald was more money so it would cost me more money to move up in the gem.  In the mean time I got a lot of fast talking from them about how emeralds are going up in value everyday.  Then they hit me again, with "they found a matching emerald and that I should turn these emeralds into jewerly, a ring and matching earings".  Once this was done, they would go to the mideast and get these pieces sold and I would make money. I had $53,000 invested with them. David Brooks words to me were the following, " The worest that will happen is that you will get your money back".  That was a lie. the jewerly never sold, I don't believe they ever did try to sell it, even though my rep from the company, Bill ( he was a ok guy) did say they were marketing my pieces. I got posession of my jewerly, ( Global Royalties had posession int he pass at Evergreen Gem Co in NYC). i was able to sell the piece of jewerly on my own, but at a loss of $38,000. Now comes the worst part. They gave my information away to other people and caompanies that tried to scam me. They breached the confidentiality agreement. I got call from about 6 other people or comanyies trying to tell me they could sell me hard asset. They knew what I was holding, what I paid for it, my personal information and how I was looking to sell these assets.  All just trying to scam me and rip me off. Here is a warning - NEVER DO BUSINESS WITH GLOBAL ROYALTIES.


This report was posted on Ripoff Report on 05/14/2014 12:54 PM and is a permanent record located here: http://www.ripoffreport.com/r/Global-Royalties/Mississauga-Ontario-L4Z1P3/Global-Royalties-Lost-a-Lot-of-Money-with-this-company-do-not-trust-them-Mississauga-Ont-1146657. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
2Author 2Consumer 1Employee/Owner
Updates & Rebuttals

#1 General Comment

Communication

AUTHOR: MasterD9778 - ()

Ron,

I am not sure how we can communicate offline?  Obviously we don't want to post email addresses or phone numbers.  I would be nice if you could PM through ripoffreport.

In the meantime you should register on http://www.complaintsboard.com/complaints/global-royalties-limited-mississauga-ontario-c393380.html#1516661

It is another website with similar complaints about Global.  Maybe if we can get enough people together we could start something.  Maybe someone could start up a facebook site and we could PM that way?

 

 

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#2 Author of original report

Global Royalties

AUTHOR: Ron - ()

I would hope we could take legal action. The owner of the company is Brandon Hall. We need to group together on this. 

Is there any way you can contact me.

 

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#3 Consumer Comment

In the same boat

AUTHOR: MasterD9778 - ()

I have purchased a number of stones over the last two years.  Really, really wish I had done some research.  I did check out the BBB and Global Royalties had an 'A' rating.  Not sure how that happened.  Anyways, I wanted to sell two of my stones so I contacted them in September.  I was given the run around that they were being put up at auction.  Two months later, nothing.  So I called today (Nov 12/14).  Phone number is not active.  Website is under construction.  I have filled a BBB complaint.  Interesting thing is a few years ago Global Royalties actually sued RipOffReport for defamation.  Lol. 

Have a read of the following link:  http://www.crimes-of-persuasion.com/Crimes/Telemarketing/Outbound/Major/Investments/gemstones.htm

I am wondering if we could possibly conjure up a gathering of their clients and file a lawsuit against them.

Is there some way we can pass messages back and forward? 

I am starting to wondering if Global Royalties has actually been around since 1972?

 

 

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#4 Author of original report

Ripped off by Global Royalties

AUTHOR: Ron - ()

I think legal action should be taken against Global Royaltes.  Is there any way you can contact me. 

 

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#5 REBUTTAL Owner of company

Same situation happened to me

AUTHOR: Nick - ()

The exact same thing happened to me with Global Royalties nearly four years ago.  David Brooks contacted me peaking my interest in purchasing a sapphire from GRL at relatively small investment around $3500.  In a couple months he called back and asked if I would be interested in purchasing a stronger position in the "red hot" emerald market and that the value of my sapphire had appreciated dramatically in that time, which agreed to do.  Another few months later, another company representative by the name of Danny Matar called me telling me that if I "upped" my position to larger emerald he could assist me with a "quicker" much more profitable sale of the gemstone in auctions that he routinely attended in the Middle East.

Everything went south from there.  I purchased a larger emerald 4 carat + in around the $35,000 mark, and prepared to move it in a timely matter.  Soon after this Danny Matar's ties to the company were "severed" and my representative was replaced by a guy by the name of William Brown.  Nice guy, tried to smooth things over as best as he could, but the reality was I was lied to and lead to believe by a number of the GRL representatives including the company's owner, that things were a lot more lucative than what they really were.

To top things off, Danny Matar contacted me out of the blue one day asking me if I still owned my emerald.  I thought my prayers were answered, as I had developed a fairly good relationship with him during the time he "worked for" GRL.  He told me that he had moved on doing much the same thing, buying, selling emeralds in the Middle East similar to what he had done with the company before.  He said GRL had no interest in selling my gemstone for me as they use it as assets to purchase more gemstone to sell overpriced to more suckers, or I mean customers.

Now with the ex-employee "working for my best interest", I thought I would be out of this debacle in no time at all.  Wrong answer!!  Danny Matar told me he would have to get the emerald in a jewellry setting prior to sale, as it was the best way for me to insure that I returned the best money for my gemstone.  With that I agreed to purchase the setting for the emerald and get the ball rolling.

The setting cost $11,000 of which I sent the money to Danny Matar.  Suddenly communication between him and I ceased to exist.  I have been spending the past year and a half trying to track down this individual whom I learned his name is actually Dikran or Diko Khatcherian to get my money back.  I will someday, one way or another.

Since then I have just started receiving calls from interested parties to sell my gemstone for me after Global Royalties sold their client list to who knows who.  So much for their client confidentilality agreement.   But at this point I have no idea who I would ever be able to trust after my first, and last gemstone investment.

I tried calling Global Royalties today (905) 890-3000 after emailing William Brown a couple times with no reponsed, however only received a busy signal at this number.  Their toll free number has been disconnected (866) 296-8429.

I am sure there are some good reputable people that exist in this industry, however I have yet to find them.  If someone, contacts you out of the blue asking about buying gemstones, diamonds, etc., do your due diligence before sending them a single penny.  Also, they tend to move around unknowingly, have alias', and pop up with new businesses all the time.  Many of them are professional crooks, and they are good at parting you from your hard earned money.

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